Gold is still rising with the support of geopolitical tension

Gold continued its profits for the second session, supported by high tensions in the Middle East, as well as the attraction and a safe haven, after US President Donald Trump’s statements that he had notified trade partners within a week to two weeks. The precious metal increased by 0.6% to approach $ 3373 per ounce, and continued 1% in the previous session, when it also benefited from the dollar drop. The demand for purchase increased after the United States ordered some of its embassy employees to leave Baghdad, and the families of US military staff were able to leave the Middle East, after Iran threatened to attack US bases if the talks on its core program collapsed and attacked. In a separate context, Trump said he intended to send messages to trading partners within a week, in which he determined the rates of mutual customs duties, before the July 9 period to increase higher fees on dozens of economies. He added that a commercial framework was completed with China, while the current fees between the two largest economies in the world were maintained. Gold benefits from the escalation of commercial and geopolitical risks that have led to uncertainty over global trading tension, and the escalation of geopolitical risks to market the turmoil this year, which has strengthened the attraction of gold as a tool to maintain value in times of turmoil and contributed to the increase of 28% since the beginning of the year. The Precious Metal also had additional support through the increasing purchases of the central bank. By 07:59 Singapore, the immediate gold price rose 0.3% to $ 3364.43 per ounce. The Bloomberg index finished for the immediate dollar after falling 0.4% on Wednesday. Silver, platinum and bolladium are all profits.